Individual entrepreneurs or legal entities often face an unpleasant situation when foreign counterparties do not fulfill their obligations under contracts and agreements. In such cases, it is recommended to turn to the International Commercial Arbitration Court as a dispute settlement body. Failure to act in such situations leads to many negative consequences, for example, to significant loss of finance and goods.
However, it is quite possible to prevent such actions of an unreliable foreign partner and exclude possible losses. For this, there is the ICAC (International Commercial Arbitration Court), which functions at the CCI (Chambers of Commerce and Industry).
This independent organization that carries out its activities based on the current legislation and helps in resolving a dispute related to international activities. Regulation of the ICAC is grounded by the following:
- The UN Convention in New York;
- European Convention (Geneva);
- Other international conventions and treaties, as well as domestic laws of countries.
The listed conventions oblige to recognize the decision of International Arbitration and its immediate execution.
Eternity Law International as a reliable protection strategy
Dozens of highly professional lawyers in many countries of the world cooperate with Eternity Law International. Depending on the subject of the dispute, a strict sequence of actions is developed to achieve positive results.
Rich experience in solving complex disputes, high professionalism of employees, protection of clients in the courts of European countries make it possible to guarantee a positive outcome.
Such positive experience has allowed gaining a good reputation among clients from different countries and among huge companies with international investments. Pre-trial and judicial protection of Eternity Law International means the following:
- pre-trial resolution of controversial issues;
- negotiations with the participants of the process;
- advice on legal international issues in various countries (private, criminal, commercial, civil and labor law);
- drawing up claims and complaints;
- personal participation in the meeting;
- development of a unique strategy for conducting cases in international courts;
- collection and provision of evidences in an international court;
- preparation of cassations and appeals;
- enforcement of court decisions.
The ICAC will consider the case if there is an arbitration agreement between the parties. This is an official document confirming that a conflict has appeared because of certain legal relations. There are two types of such agreements:
- Arbitration clauses, which are previously agreed by the conflicting parties and determined in the contract;
- Arbitration agreements, which give the right to consider previously arisen disputes based on certain relationships.
Cases considered in the ICAC
The date of commencement of the arbitration dispute consideration shall be the day on which the claim was filed or the date indicated on the postmark on the day of registered letter sending. The application must contain the following brief and accurate information:
- the name of the organization or the full name of the person;
- contact details and mailing address;
- claims under the lawsuit;
- an accurate statement of the facts that forced the drawing up of an application and sending it to the ICAC;
- facts confirming the mentioned violations;
- the amount required by the plaintiff for compensation, with its precise regulation;
- list of documents and copies attached to the application.
International commercial arbitration is authorized to consider the following types of disputes:
- violation of the terms of delivery, purchase and sale;
- failure to provide services or work performed;
- violation of logistics or passenger transport agreements;
- violation of the provision of intermediary services;
- lease of immovable or movable property;
- insurance, credit or settlement disputes, investments;
- violation of business and commercial activities.
All cases are considered by arbitrators who are appointed by the Presidium of the CCI from among the persons of the arbitrators’ lists. The decision made is considered binding and is not subject to revision. The decision must be followed rigorously. In case of refusal to execute the decision voluntarily, the defendant will be forced to do so. The Law on Arbitration does not apply to decisions made by the ICAC.
Eternity Law International professionals are able to protect your rights, defend your interests and help to recover damages in international arbitration. Professionalism, rich experience, positive reputation and reasonable prices can guarantee mutually beneficial cooperation.
Help is provided on a daily basis, excluding weekends and holidays. Contact us and get quality support.